If you receive the CGT asset - or a share of a jointly owned asset - and there is a marriage breakdown roll-over, you are taken to have acquired the asset at the time your spouse, the company or the trustee disposed of the asset to you. To calculate a capital gain or loss when a later CGT event happens, your cost base or reduced cost base for the asset is taken to be an amount equal to the cost base or reduced cost base of your spouse, the company or trustee at the time of the transfer.

Costs of transfer incurred by the transferor - such as conveyancing fees and stamp duty - are included in the cost base.

In calculating your capital gain, if the sum of your period of ownership of the asset and the period of ownership of your spouse, the company or the trustee is at least 12 months, the cost base may be indexed for inflation provided you acquired the asset before 11.45 am on 21 September 1999. If you acquired the asset after that time, its cost base is not indexed for inflation but you may qualify or the CGT discount on your capital gain. If the transfer of the asset occurred before 1 July 1998, only your period of ownership determines whether indexation applies.

If you receive your spouse's share of property that you jointly owned, you are taken to have acquired that share of the property at the time it was transferred.

Collectables or personal use assets remain collectables or personal use assets when they are transferred between the parties in a marriage breakdown roll-over. For information regarding collectables and personal use assets, see What are CGT assets?.

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